Member Since: 29 Jul 2011
Location: Ruralshire
Posts: 593
Insurance Premiums On the Rise
Motor insurance will increase significantly after today's announcement from Liz Truss concerning the discount rate applied to lumpsum compensation for accident victims. Yipeeee !
Member Since: 05 Feb 2006
Location: ¯\_(ツ)_/¯
Posts: 17932
I read it as the insurance companies artificially reducing the amount they have had to pay out for many years by pointing at investment rates that were simply not possible in more recent times. The money saved became profit, corporate bonuses and dividends. Trying to attract corporate sympathy from the same public they have worked so hard to underpay may not cut it.
None of this is retrospective either, those unfortunate to have had their payments discounted on the basis of a pipe dream of heady investment rates will get nothing extra. Meanwhile the insurance companies will just reach into our pockets for the future.Land Rover - Turning Drivers into Mechanics Since 1948
Member Since: 30 Oct 2011
Location: plymouth
Posts: 6525
don't forget the government are happy to take 12% IPT from you as well..was nil once
28th Feb 2017 10:21 pm
galwaygreen
Member Since: 30 Oct 2011
Location: plymouth
Posts: 6525
correction.....12% should be 10%...thanks to brian for highlighting
1st Mar 2017 10:28 pm
spikekellyrm
Member Since: 23 Jul 2015
Location: Manchester
Posts: 662
What if you had an accident a few years ago but you've only just filed with court? Which rules would apply?D4.5 Facelift, Lazer ST4, Prospeed underbody and rack, IID BT, Compomotive/BFG KO2, Series MFlaps, RAI, Dog Gd+XBB, Alive Tuned, T-Max/YellowTop, RemoteFBH, GlassesMod, WheelWinchMod, Jack Mod, LED Mods, Seized Crank Mod....
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